Angeles Wealth Management, a U.S.-based wealth manager with approximately $2.6 billion in assets under management, has executed a strategic acquisition of XO Capital, a boutique investment and family office services firm, to launch Angeles Family Office (AFO) — a fully integrated family office affiliate designed for ultra-high-net-worth (UHNW) clients. The deal — announced in mid-January 2026 — marks a deliberate repositioning of Angeles from a traditional advisory firm toward a comprehensive multi-service family office platform offering bespoke wealth services under one roof.
The acquisition brings XO’s dedicated investment management and family governance expertise into Angeles’ broader institutional infrastructure and investment capabilities. By folding XO’s team into AFO’s leadership, Angeles is now able to internalize functions typically outsourced by UHNW families — including discretionary portfolio management, estate and tax planning coordination, cash-flow oversight, bespoke investment deal flow and multi-generational reporting.
Why This Move Matters:
- Capital Concentration in Integrated Wealth Services: UHNW families increasingly seek holistic wealth management structures that unite financial advisory, investment execution and legacy planning. Angeles Family Office’s formation signals a shift away from fragmented third-party relationships toward single-platform control — capturing more assets and fees in-house.
- Institutional Scale Meets Family Office Customization: By aligning XO’s boutique strengths with Angeles’ institutional investment processes (including access to Angeles Investment Advisors’ $7.1 billion discretionary portfolio capabilities), the combined entity stands to offer richer, tailored strategies for UHNW portfolios — a segment that often outspends on outsourced solutions.
- Broader Wealth Management Trend: This acquisition reflects a broader strategic trend among wealth managers to deepen family office services as billionaire clients reduce their reliance on public markets in favor of private markets, direct co-investments and bespoke alternative allocations. Recent investor surveys show nearly half of global billionaires plan to increase direct exposure to private equity in 2026 — underscoring demand for sophisticated, bespoke investment vehicles that integrated family offices can facilitate.
What It Signals About Ultra-Wealth Strategy:
The Angeles move exemplifies how capital is being reallocated not just into specific asset classes but into wealth infrastructure itself. UHNW families are deploying capital toward institutions that can house complex strategy execution, risk management, and legacy planning internally — rather than relying on a patchwork of external advisors. As family offices worldwide expand their footprint and service offerings, players like Angeles Family Office position themselves as custodians of long-term intergenerational capital.
